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Leases (Tables) | 6 Months Ended
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May 31, 2021
Leases [Abstract] |
Operating Lease, Lease Income [Table Text Block] | The following table presents our lease right-of-use assets, lease liabilities and the weighted-average remaining lease term and weighted-average discount rate (incremental borrowing rate) used in calculating the lease liabilities (dollars in thousands):
| May 31, 2021 |  | November 30, 2020
Lease right-of-use assets (a) | $ | 32,567 |  |  | $ | 36,270 |
Lease liabilities (b) | 34,524 |  |  | 38,000 |
Weighted-average remaining lease term | 4.1 years |  | 4.5 years
Weighted-average discount rate (incremental borrowing rate) | 5.1 | % |  | 5.1 | %
(a)Represents lease right-of-use assets within our homebuilding operations and financial services operations of $32.3 million and $.3 million, respectively, at May 31, 2021, and $36.0 million and $.3 million, respectively, at November 30, 2020. (b)Represents lease liabilities within our homebuilding operations and financial services operations of $34.3 million and $.3 million, respectively, at May 31, 2021, and $37.7 million and $.3 million, respectively, at November 30, 2020. The following table presents additional information about our leases (in thousands):
| Three Months Ended May 31, |  | Six Months Ended May 31,
| 2021 |  | 2020 |  | 2021 |  | 2020
Lease right-of-use assets obtained in exchange for new lease liabilities | $ | 1,411 |  | $ | 2,428 |  | $ | 1,499 |  | $ | 6,068
Cash payments on lease liabilities | 2,916 |  | 2,894 |  | 5,669 |  | 5,637
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | As of May 31, 2021, the future minimum lease payments required under our leases are as follows (in thousands):
Years Ending November 30, |  |  |
2021 |  |  | $ | 5,936 |
2022 |  |  | 10,538 |
2023 |  |  | 8,270 |
2024 |  |  | 6,130 |
2025 |  |  | 4,500 |
Thereafter |  |  | 3,111 |
Total lease payments |  |  | 38,485 |
Less: Interest |  |  | (3,961) |
Present value of lease liabilities |  |  | $ | 34,524 |

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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of components of income from operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121576215&loc=SL77919372-209981 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 6A -URI http://asc.fasb.org/extlink&oid=121640914&loc=SL77927221-108306 + Details
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